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Bitcoin, Ethereum, Dogecoin Grind Up: ‘We Could See A Fully Bullish 2025,’ Trader Hopes


Cryptocurrency markets are slightly up as markets are trying to assess the chances of a rate cut next Wednesday.

Cryptocurrency Price Gains +/-
Bitcoin BTC/USD $58,420.94   +1.7%
Ethereum ETH/USD $2,354.98 +0.9%
Solana SOL/USD $135.52 +2.8%
Dogecoin DOGE/USD $0.1021 +0.8%
Shiba Inu SHIB/USD $0.00001334 +0.7%

Notable Statistics:

  • IntoTheBlock data shows Bitcoin’s large transaction volume dropped by 11%, while daily active addresses saw a 7% drop. Exchanges netflows narrowed by 56.7%.
  • Coinglass data shows 26,425 traders liquidated in the past 24 hours for $67.65 million.
  • Crypto chart analyst Ali Martinez noted a spike in the Bitcoin Taker Buy/Sell Ratio on Binance. This is a sign of aggressive buying, with potential upward momentum ahead.
  • In another tweet, he said that Bitcoin miners are earning far less than their historical average as indicated by Bitcoin Puell Multiple dropping below 0.4.

Notable Developments:

Top Gainers:

Cryptocurrency Price Gains +/-
Worldcoin WLD/USD $1.60 +16.5%
Sui SUI/USD $1.02 +12.5%
Beam BEAM/USD $0.01416 +11.4%

Trader Notes: With Bitcoin prices crossing the $58,000-mark, crypto trader Titan Of Crypto foresees the “legendary $100,000 target incoming.” He predicts the end of the year could surprise many just like in 2022 when the “recession was everywhere,” but Bitcoin bottomed out earlier.

With a reclaim of $58,000, crypto trader Jelle sees a push beyond $65,000 to “completely lock into the Q4 all-time high thesis.”

Stockmoney Lizards compares Bitcoin’s performance to a time-specific pattern that revolves around the Halving dates. The trader calls the timing perfect and expects to see bright green monthly candles again after a couple of weeks, most likely in Q4 2024.

He added, “If all goes according to plan, we could see a full bullish 2025.”

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: 

Image: Shutterstock

Market News and Data brought to you by Benzinga APIs




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